- (1.) HEARD learned counsel appearing for the petitioners and learned counsel appearing for the opposite party no.2.
(2.) THE order dated 23.5.2012 passed in Adityapur P.S case no.244 of 2001 under which cognizance of the offence punishable under Sections 406, 420, 120B of the Indian Penal Code has been taken against the petitioners is being sought to be quashed on the ground that the petitioners have been denied right to speedy justice and that no case is made out, even if the allegations made against the petitioners are taken to be true. Learned counsel appearing for the petitioners in this respect submits that the allegation which has been put against the petitioners is that the petitioners secured loan from the Bihar State Financial Corporation after creating equitable mortgage of the property bearing plot no.C-47 but subsequently, the petitioners mortgaged the said property with the Allahabad Bank. Further case is that the petitioners were saanctioned additional loan supposedly upon mortgaging the property, bearing plot no.C-46 but the petitioners in connivance with the officials of Bihar State Financial Corporation did not pledge the document related to that property with the Corporation. On such allegation case was registered though by such act the Corporation cannot be said to have been cheated by the petitioners, rather if anyone has been cheated, it could be Allahabad Bank and thereby the court has committed wrong in taking cognizance of the offence. In this regard it was further submitted that if any offence is made out, that is made out under Section 42 of the State Financial Corporation Act, 1951 a special Legislation and in that view of the matter,the petitioners can not be allowed to be prosecuted under General Law.
(3.) HEARD learned counsel appearing for the Corporation,;